The legislative budget agreement contains meaningful tax relief for homeowners, seniors and families,
but next to nothing for manufacturers and other job creators because Assembly Majority members stripped
nearly every provision away, according to Assembly Minority Leader James Tedisco (R,C,I-Schenectady,
Saratoga.)

Tedisco said his conference today offered an amendment that would eliminate the corporate franchise tax
on manufacturing, a tax cut that has broad bi-partisan support in the Assembly including 15 Majority sponsors.
The tax break would save manufacturers $600 million annually when fully phased in. It was part of the Senate
budget resolution that contained more than $3 billion in business tax cuts. The current agreement contains little
over $200 million total.

Tedisco said his Minority conference was focusing on manufacturing because the sector is so critical to New
York State, especially Upstate New York.

Despite losses of manufacturing companies and jobs over the years, in 2002 there were still over 21,000
manufacturers employing more than 641,000 employees in New York State, according to the most recent
Economic Census information from the U.S. Census Bureau.

"There has been some ridicule of Upstate New York recently, being compared to Appalachia. Well now
is the chance to prove you're good for more than just name calling. If you give a darn about creating jobs and
opportunity in Upstate New York, you will step up and help pass a tax cut that would significantly help the
situation," said Tedisco.

Assemblyman Brian M. Kolb (R,C-Canandaigua,) Chairman of the Assembly Minority Task Force on Manufacturing
said, "The cost of doing business in New York remains high, especially for manufacturers, the lifeblood of the
upstate economy. We need to do a lot and eliminating this onerous tax would be a great start."

Tedisco and the Assembly Minority members were instrumental in including a property tax relief plan in the budget
agreement, hammering away at the issue for weeks and issuing a budget ultimatum saying that they would not
vote for a state budget that did not include significant property tax relief. During the General Budget Conference
Committee meetings of legislative leaders, Tedisco repeatedly demanded a public discussion and debate on
the issue.

In the end, a two-year $4.106 billion tax cut package included $1.765 billion in property tax relief. Under the
agreement, homeowners would receive a rebate check in the mail worth 30 percent of their STAR savings.
Average checks would be between $200 and $800 depending on age and local property tax rates.

In addition to the property tax relief, an agreement was made on a $330 per child tax credit for children ages 4-17,
on permanently eliminating the state sales tax on clothing under $110, and on eliminating the personal income tax
marriage penalty.

"We managed to get some money back into the pockets of taxpayers, now we need to help out the businesses
that create jobs," said Tedisco.